Saudi Dar Al Arkan to repay SAR 1.687bn sukuk Thursday

Riyadh – Mubasher: Saudi Arabia-based Dar Al-Arkan Real-Estate Development Company has announced that it will repay sukuk at a combined value of SAR 1.687 billion ($450 million) to Nasdaq Dubai, due on Thursday, 24 May.

Dar Al Arkan also stated that it has bought back a part of the Islamic sukuk at a value of SAR 381 million ($101.7 million) in 2017 and 2018, the real estate firm said in a statement to the Saudi Stock Exchange (Tadawul) on Wednesday.

The Saudi real estate developer transferred the remaining principal and profits to the accounts, the statement showed.